Reports to: Chief Growth Officer and CFO
Manages: Accountant for Property and Construction
Summary: Reporting to the Chief Growth Officer and CFO the Vice President of Real Estate is a new, pivotal role that focuses on strategic opportunities for the Cleveland Foundation to create growth and impact through the alignment of real estate and economic development benefit for the region.
The Cleveland Foundation’s strategic future is centered around growth and impact for the community. As a member of the “growth team” at the Cleveland Foundation, the VP of Real Estate will focus on catalytic opportunities, neighborhood revitalization and economic development growth.
The two major focus areas will be:
1. Strategic Leadership for Growth and Impact: Developing an articulated plan for the foundation of the future.
The VP of real estate must be able to see across the entire foundation and find ways for this new line of business to impact all that we do. The VP will articulate new ways to use real estate to grow our assets – this may include new products and services so that donors and investors can be a part of this work, new strategies for donation of real estate and alignment with partners in regional economic development.
2. Leading the Catalytic Development in Midtown / Hough:
The VP will assist with furthering the plans and development resources to build out our 20+ acres of land purchased by the Foundation in Midtown (and land to be purchased). Including the community members of Hough neighborhood in development plans is a critical component. The role will be the staff lead for the Midtown Real Estate Committee (currently an ad hoc committee of the Foundation.) Racial equity and inclusion are the primary focus when executing the responsibilities of this position.
Responsibilities and Expected Outcomes:
Strategic Leadership for Growth and Impact:
The VP will propose opportunities for game changing new vehicles for philanthropy to grow through real estate. Align proactive opportunities and tax drivers for donors to contribute real estate assets to the foundation. Research and develop position papers and innovative proposals for enterprise-wide opportunities to utilize land as a powerful asset and growth opportunity for the Cleveland Foundation.
Opportunities Economic Development
- The VP is responsible for the stewardship of the land acquired focusing on growth and impact of our real estate assets.
- The VP must prioritize the use of land to support the Foundation’s social mission and vision for neighborhood redevelopment, with focused consideration regarding the racial equity, diversity and inclusion impact related to the use of land.
- Assists the CFO and GC on contact negotiations and reviews contracts in detail to protect Foundation from liability.
- Understands and helps seek tax advantaged financings; TIFF, NMTC, etc.
- Assists CEO and CFO in land acquisition and development of master plans per node where applicable.
- Assist in the scaling of the Hough Community Land Trust.
- Find opportunities to partner with City and County Land Bank for opportunities.
- Prepares TCFMMCP agendas and presentations. Complies with NMTC requirements.
- Assists CFO on gap analysis for catalytic impact investing and designs/ negotiates funding opportunities.
- Works with MARCOM on how to announce/new market initiatives.
- Oversees the Construction/ Property accountant on property tax issues and general accounting/budgeting for all real estate and construction projects.
- Handles plotting and surveys with outside legal and partners as needed.
- Prepares LOIs and Lease Agreements with CFO and GC as needed.
- Prepares reports to the Board and all staff as needed.
Midtown Collaboration Center (MCC) Project Tasks:
- Assists with Letters of Intent and lease preparation for remaining tenants (Brewery, Music Venue, Food Vendor and 3rd Floor Space) and working with staff and outside counsel to get agreements negotiated and signed in timeframe needed.
- Attends design meetings with tenants- understands their space buildouts and communicates back to CFO and accounts on progress and potential challenges.
- Makes sure tenants are working with architect and contractor in timely way to get their spaces built out towards a grand opening event in Jan. 2025.
- Assists with helping get utility poles moved for site prep with Regency. Where needed communicates with community partners (Dunham) in road closure impacts.
- Assists on seeing where permits are with the county/city when needed. Works with architect on questions received in sewer, water and other utilities.
- Sets up Tenant Meetings for MCC and prepares agendas and presentations.
- Works with other TCF colleagues and consultants on IT, Security, Environmental as needed.
- Assists with cost analysis for Furniture and AV for MCC.
- Assumes other special projects and responsibilities as assigned by the CFO regarding the MCC.
- Maintains progress list of all tenant meetings and identifies potential delays in schedule.
- Maintains prospective tenant information and arranges follow-up meetings with the CFO for new tenants.
- Participates in all tasks that relate to the construction being on time and under budget.
- Assists with NMTC community benefit reporting, reviews payments, leads unwind structure In 2030 with Controller and Director of Investments.
Midtown Real Estate Committee
- With CFO prepares agendas and presentations on growth and impact
- Reviews MREC Charter and practices annually
- Arranges for guest speakers when appropriate.
- Understands and reports on any UBIT issues with CFO and Controller
- Together with the CFO directs environmental cleanup issues with land purchases.
- Works to get environmental grant opportunities where possible.
- Works with MARCOM on communication releases regarding environmental issues.
- Ensure adequate insurance is purchased for all properties.
- Works with Property Account to maintain insurance certifications from contractors.
Essential Qualifications, Credentials and Technical Skills required:
- Project management skills preferred experience in Real Estate property management firm.
- Bachelor’s degree, preference for MBA or JD.
- Proven ability to interact effectively with outside legal counsel, community leaders, contractors, architects, owners’ representatives and senior staff.
- Demonstrated ability to work autonomously and collaboratively in a complex environment as part of a multidisciplinary team and work effectively with senior management as well as the Board of Directors. Proven effectiveness in relating to people of all cultural, ethnic, socio-economic and age groups.
- Strong organizational skills and management reporting.
- Excellent writing and presentation skills.
- Skilled in Microsoft Office especially Excel and PowerPoint
OUR COMMITMENT TO DIVERSITY, EQUITY, AND INCLUSION:
The Cleveland Foundation exists to enhance the quality of life for all citizens of Greater Cleveland. The ability to carry out our mission and to foster our commitment to diversity, equity and inclusion can best be pursued if our workforce, grantees, donors, partners, and governing body are inclusive of individuals of diverse backgrounds, beliefs, and perspectives.
We believe that diversity encompasses, but is not limited to, age, color, education, ethnicity, family or marital status, gender, gender identity or expression, language, national origin, physical and mental abilities or characteristics, political affiliation, race, religion, sexual orientation, socio-economic status, veteran status, and/or other characteristics that make an individual unique. The Cleveland Foundation is committed to equal employment opportunities for all.
PEOPLE & CULTURE
Employees are not just employees at the foundation. They are thought partners and contributors that provide the passion, creativity and effort behind the success and impact we have with our partnerships and initiatives in the community. The foundation encourages collaboration and sharing within and across teams and has benefited from the innovative ideas and work that has resulted from this collaborative workplace mentality.
Each employee is valued for the expertise and experience (lived and learned) they bring to the foundation and encouraged to bring their genuine selves to their work. All employees understand and tie their work back to our mission, values and strategic direction and have been included in the decisions and design of many of our programs and strategies, including the design of our new headquarters building. Most importantly—they have fun at work!
To ensure the ongoing ability to attract, engage and retain the most talented and diverse employees, the foundation has made it a priority to understand and support its internal community in every way. The comprehensive and regularly evaluated array of programs and benefits offered are designed to ensure that every employee is cared for and has resources available with respect to physical, mental/emotional, financial, social, family and professional wellbeing.
Employees share with the foundation how they feel about the work culture, pay and benefits on an annual basis—and the foundation listens, shares and responds! As a result, and based on ongoing feedback, the foundation has been named a NorthCoast 99 Award winner 21 years running and a Plain Dealer Top 100 Workplaces Award winner 11 years running.
PAY AND BENEFITS:
Based on the foundation's compensation program, estimated annual salary for this position may be anywhere between $170,000 and $210,000 with some flexibility, based on the academic, professional and community experiences and credentials of a candidate.
The foundation offers an exceptional benefits package including medical, dental, vision, identity theft, and life and disability coverage, a comprehensive wellness program, an employee assistance program, a fully vested 403(b) retirement plan, ten paid holidays and, for exempt positions, 15 days of vacation and 12 sick days, prorated the first year of service based on date of hire.
If you are interested in applying for this position, please submit your resume and cover letter as soon as possible. We regret that we cannot respond personally to each applicant.
Note: Our flexible workplace policy provides for one day of remote work per week.